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Financial planning self-licensing

What is self-licensing?

If you are currently a Corporate Authorised Representative under another AFSL, you’ll need to apply for an Australian Financial Service Licence (AFSL) as a financial planning practice to become self-licensed. ASIC is responsible for granting those types of licenses and do so by assessing advice businesses on their ability to meet and maintain basic standards such as training, compliance, insurance, and dispute resolution.

Obtaining an AFSL means your advice business will be authorised to provide a range of financial services to clients.

Why obtain an AFSL?

Operating independently might be something that has always been your long-term plan, or perhaps you are only just starting to consider if it is the right option for you. Either way, there are many things to consider before you take on that next step.

The practices we support find that operating under their own AFSL has provided them with a high level of freedom and control over how they operate.

However, obtaining and maintaining an AFSL is a significant undertaking. As well as the application process itself, you will have the ongoing responsibility for all areas of your licence.

You'll need to make important decisions around:

How you operate and grow your business.

How you engage more staff and expand to other locations.

How best to market your business.

How you maintain compliance to the relevant financial laws at all times.

Managing your own approved product list.

Learn about obtaining your own licence

It’s important to do your research so you can be fully informed about the responsibilities and obligations of running an AFSL. Jigsaw works closely with our partner - Compact Compliance & Training (CCT) to help you understand the AFSL journey, from application to managing your licence. Watch this informative 20 minute webinar to find out more about the journey to becoming self-licensed. You can access the FAQ’s from the live webinar here.

By using our service, you can access a substantial discount on CCT’s licence application package. Contact us for more details.